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US Jobless Claims Steady Amid Recession Fears

6/12/2025

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Summary

Story summary

Jobless claims in the US held firm at 248,000 for the week ending June 7, despite the looming shadows of a trade war. Analysts are increasingly worried about rising layoffs, hinting at a possible recession. The Federal Reserve cautions that unemployment and inflation may climb, as the economy contracted by 0.2% in Q1 2025, influenced by surging imports ahead of tariffs.

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Story summary

Jobless claims in the US held firm at 248,000 for the week ending June 7, despite the looming shadows of a trade war. Analysts are increasingly worried about rising layoffs, hinting at a possible recession. The Federal Reserve cautions that unemployment and inflation may climb, as the economy contracted by 0.2% in Q1 2025, influenced by surging imports ahead of tariffs.